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Nissan's Carlos Ghosn reportedly arrested, to be fired for financial misconduct

TOKYO — Nissan Motor Co said it was ousting Chairman Carlos Ghosn for alleged financial misconduct and Japanese media reported he been arrested, a shocking fate for a leader hailed for rescuing the company from close to bankruptcy. The Japanese automaker said Ghosn's alleged misconduct included personal use of company money and under-reporting how much he had been paid. Ghosn is also chairman and chief executive of Nissan's French partner Renault and one of the best-known figures in the global car industry, and his departure would raise question about the future of the alliance. Nissan said it launched an months-long investigation after a whistleblower tipped it off to wrongdoing by Ghosn and Representative Director Greg Kelly. "The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation," Nissan said in a statement. It said CEO Hiroto Saikawa would propose that the Nissan board remove Ghosn and Kelly. Neither Ghosn nor Kelly could be reached for comment. Renault shares tumbled 11 percent in Paris to be among the worst performing stocks in Europe. Nissan's German-listed securities plunged 10 percent. French President Emmanuel Macron said the government, the French carmaker's top shareholder, will be vigilant about Renault and its alliance with Nissan. Cost cutter Known as "Le Cost Killer," Ghosn is credited for reviving the Japanese automaker and has remained popular despite the massive job cuts that he brought and recent controversy over his lucrative pay package. Japanese media reported that Ghosn had reported around 10 billion yen worth of compensation as around 5 billion yen. Ousting Ghosn, 64, is bound to raise questions about an alliance that he personally shaped and had pledged to consolidate with a deeper tie-up, before eventually stepping back from its operational leadership. "The initial share price reaction shows how pivotal he is," Citi analyst Raghav Gupta-Chaudhary said on Monday. The current alliance structure has long undervalued Nissan shares held indirectly by Renault investors, he added. "Ghosn is viewed as critical for value unlock." Renault owns 43.4 percent of Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999.

Recharge Wrap-up: Gogoro Smartscooter debuts, Nissan Leaf drivers drive more

The West Coast Electric Highway in Oregon and Washington makes up about nine percent of the country's EV charging stations. Located along I-5, Highway 101 and other highways, Oregon offers 43 DC quick chargers, while Washington has 14. Chargers are located every 20 to 25 miles along the network, with plans to extend the Electric Highway from Canada all the way to Mexico. Between March 2012 and April 2014, drivers used public chargers 17,917 times in Washington and 18,522 times in Oregon, according to the US Energy Information Agency. Read more at Green Car Reports and at The Register-Guard. Nissan says Leaf drivers in Europe clock about 40 percent more miles on average than gasoline and diesel cars. Using the Leaf's CarWings telemetry, Nissan has found that Leaf drivers average 198 miles per week, or about 10,307 miles per year. Drivers using traditional fossil fuels only drive an average of 138 miles per week, or 7,170 miles a year. Nissan has sold more than 31,000 units of the Leaf in Europe, with more than 150,000 sold worldwide. "Our customers frequently tell us that they buy the Nissan Leaf as a second car, but end up using it far more than their other vehicle," says Jean-Pierre Diernaz, Nissan's European EV director, "and the information we receive from CarWings reinforces that message." Read more in the press release below. Gogoro's electric Smartscooter, which uses a battery swap system, debuted at the 2015 Consumer Electronics Show in Las Vegas. The Smartscooter features a racing suspension, a connected mobile app, a suite of sensors and a host of customization options. What makes the Smartscooter really interesting, though, is its battery swapping network. The 20-pound batteries are traded at small stations - essentially vending machines - in a matter of seconds, so worries about charging times are nonexistent. The battery stations could also be used by utilities for energy storage to help balance grid loads when they're not being used to power electric travel. See the Smartscooter in the video below and read more at Wired. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Economy-car buyers increasingly get the best deal on technology

One of the great things about technology is – with the exception of Apple products – consumers get more for their money every year. For example, the first 1GB USB drive I bought in 2005 cost me $30. Today you can get 10 for that price, delivered to your door thanks to Amazon. The same goes for car tech. Features such as navigation and Bluetooth started out on high-end vehicles before trickling down to entry-level cars. Same with driver assist features ranging from rearview cameras to forward collision warning with automatic emergency braking — so now it's not only rich people who are protected in car crashes. I've found that this democratization of tech has reached a point where amenities on low-cost cars can be as good — and sometimes even better — than those on vehicles costing tens of thousands of dollars more. While attending a media event for the launch of the all-new 2019 Toyota Corolla Hatchback, I was impressed by the car's cool styling and go-kart performance. Equally noteworthy is the amount of standard tech on the low-cost hot hatch. (Pricing will be announced later this month, but expect it to come in a bit higher that the current Corolla iM's roughly $19,000 base.) Even the base SE CVT trim of the 2019 Corolla Hatchback comes with an 8-inch touchscreen and Toyota's Entune 3.0 infotainment system. Among other features, Entune 3.0 provides Wi-Fi capability, Amazon Alexa connectivity, the Entune App Suite for integration of smartphone apps such as Pandora and Yelp and, for the first time in a Toyota, Apple CarPlay (but no Android Auto). The 2019 Corolla Hatchback is also the first North American vehicle to get the second-generation Toyota Safety Sense (TSS) suite of driver assists that's also standard on the base model. TSS 2.0 includes Toyota's Pre-Collision System (forward collision warning with automatic emergency braking) with new daytime and low-light pedestrian detection and daytime cyclist detection features, lane keeping and lane departure alert with steering assist, auto high beams, adaptive cruise control, and road sign detection. While the 2019 Corolla Hatchback sets a new benchmark in standard tech on a budget-mobile, competing cars aren't far behind. The 2018 Honda Fit LX, for example, includes forward collision warning with automatic emergency braking, lane departure warning and assist and adaptive cruise, while the automaker's Lane Departure Mitigation and Lane Watch camera system is added the two top trims.